Casual Dining Group reports sales increase

Casual Dining Group reports sales increase

Casual Dining Group, the operator of brands such as Las Iguanas, Bella Italia and Café Rouge, has reported like-for-like sales increase of 2.6% for the 11 months since June 2018 and a 4.2% growth for the 13 weeks since the New Year.

There are seven new UK openings planned and a further seven franchises in Ireland and the Middle East in 2019.

An investment will see 30 UK sites undergo refurbishment.

The company has seen double digit delivery growth through dedicated brands such as Blazing Bird via partnerships with Deliveroo, Uber Eats and Just Eat.

For the prior year ended 28 May 2018, the group reported a revenue decrease of 0.5% to £327.4m and adjusted EBITDA down £4m to £25.9m.

“Over the past 18 months, we have taken proactive steps to underpin the company’s future growth potential, at a time when the sector has faced unprecedented challenges,” says Casual Dining Group CEO Steve Richards. “We successfully refinanced with our existing shareholder and lender group, reached positive agreements with our property partners, and invested and diversified across our brands. Despite the ongoing market challenges, Casual Dining Group has outperformed the market over the past 11 months, recording like for like sales increase of 2.6% with an improving trend of a 4.2% increase in like for like sales for the 13 weeks since the New Year.

“The historic performance in the prior year reflects the difficulties the wider sector faced but we are confident that our proactive measures, the support of our shareholders, and our diversification by brand, channel and geography mean CDG is strongly positioned.”